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Q2 EPS Estimates for Independent Bank Boosted by DA Davidson

Independent Bank logo with Finance background

Independent Bank Corporation (NASDAQ:IBCP - Free Report) - Analysts at DA Davidson upped their Q2 2025 earnings per share estimates for Independent Bank in a report released on Friday, June 27th. DA Davidson analyst P. Winter now expects that the financial services provider will earn $0.78 per share for the quarter, up from their prior forecast of $0.77. The consensus estimate for Independent Bank's current full-year earnings is $3.22 per share. DA Davidson also issued estimates for Independent Bank's FY2025 earnings at $3.19 EPS and FY2026 earnings at $3.47 EPS.

Independent Bank (NASDAQ:IBCP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.04. Independent Bank had a return on equity of 14.71% and a net margin of 20.62%. The company had revenue of $54.11 million during the quarter, compared to the consensus estimate of $46.25 million.

Several other equities analysts have also issued reports on the company. Piper Sandler lowered their price target on Independent Bank from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their price objective on shares of Independent Bank from $37.00 to $35.00 and set a "market perform" rating for the company in a research note on Friday, April 25th.

Check Out Our Latest Research Report on Independent Bank

Independent Bank Trading Up 2.5%

Shares of NASDAQ IBCP traded up $0.85 during midday trading on Monday, reaching $34.60. The stock had a trading volume of 56,688 shares, compared to its average volume of 103,962. The company's 50 day moving average price is $31.56 and its 200 day moving average price is $32.57. The firm has a market cap of $716.91 million, a price-to-earnings ratio of 11.02 and a beta of 0.84. Independent Bank has a twelve month low of $25.46 and a twelve month high of $40.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.91.

Independent Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Monday, May 5th. Independent Bank's payout ratio is 33.12%.

Insider Buying and Selling at Independent Bank

In related news, Director Terance L. Beia purchased 1,821 shares of the company's stock in a transaction dated Friday, June 13th. The shares were purchased at an average price of $30.65 per share, with a total value of $55,813.65. Following the acquisition, the director directly owned 40,001 shares in the company, valued at $1,226,030.65. The trade was a 4.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael M. Magee, Jr. sold 6,404 shares of Independent Bank stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $31.00, for a total transaction of $198,524.00. Following the completion of the sale, the director owned 8,381 shares of the company's stock, valued at $259,811. This represents a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Independent Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its position in Independent Bank by 408.6% during the first quarter. Versant Capital Management Inc now owns 890 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 715 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Independent Bank in the 4th quarter worth $42,000. Tower Research Capital LLC TRC increased its position in Independent Bank by 246.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,439 shares of the financial services provider's stock worth $50,000 after buying an additional 1,024 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Independent Bank in the fourth quarter worth about $58,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Independent Bank in the fourth quarter worth about $59,000. Hedge funds and other institutional investors own 79.43% of the company's stock.

About Independent Bank

(Get Free Report)

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides commercial banking services to individuals and businesses in rural and suburban communities in Michigan. It offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services.

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